EQUITY-BASED COMPENSATION PLANS (Tables)

6 Months Ended

Dec. 28, 2014

Recognized Equity Based Compensation Expense and Related Income Tax Benefit

The Company recognized the following equity-based compensation expense and related income tax benefit in the Condensed Consolidated Statements of Operations:

	Three Months Ended				Six Months Ended
	December 28, 2014		December 29, 2013		December 28, 2014		December 29, 2013
	(in thousands)
Equity-based compensation expense	$	30,632	$	23,046	$	62,672	$	46,281
Income tax benefit related to equity-based compensation expense	$	6,116	$	3,744	$	10,840	$	7,599

Summary of Stock Plan Activity

A summary of stock plan transactions is as follows:

	Options Outstanding					Restricted Stock Units Outstanding
	Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted- Average Fair Market Value at Grant
June 29, 2014		1,331,886		$	32.20		5,635,469		$	45.83
Granted		—		$	—		175,344		$	72.47
Exercised		(325,243	)	$	27.15		N/A			N/A
Cancelled		(7,452	)	$	29.86		(89,307	)	$	46.47
Vested restricted stock		N/A			N/A		(1,296,667	)	$	39.71
December 28, 2014		999,191		$	33.86		4,424,839		$	48.67

Schedule of ESPP Weighted-Average Assumptions

Purchase rights under the 1999 ESPP were valued using the Black-Scholes option valuation model and the following weighted-average assumptions for the six months ended December 28, 2014 and December 29, 2013:

	Six Months Ended
	December 28, 2014			December 29, 2013
Expected term (years)		0.68			0.66
Expected stock price volatility		29.07	%		31.43	%
Risk-free interest rate		0.07	%		0.11	%
Dividend Yield		0.29	%		—